In a post to the Nintendo website, Iwata proposed what he believes the new initiative would look like, saying that as a leader in the entertainment industry the company is charged with putting “smiles on people’s faces around the world through products and services …”

Iwata said that during the past 10 years Nintendo’s strategy was to expand the “gaming population” with products offered at a diverse consumer base, products that could be “enjoyed by everyone regardless of age, gender or gaming experience.”

Now, Iwata said, Nintendo is taking that philosophy and applying it to the new “quality of life” initiative over the next decade, which he stressed would be a separate venture than the company’s video games business.

“… As the business environment around us has shifted with the times, we have decided to redefine entertainment as something that improves people's quality of life (QOL) in enjoyable ways and expand our business areas,” Iwata said. “What Nintendo will try to achieve in the next 10 years is a platform business that improves people's QOL in enjoyable ways.”

Iwata said that the first step of the quality of life initiative will be promoting “health,” though he didn’t go into further detail.

It’s not been exactly a banner year for Nintendo, as the company announced in January that it would post its third straight annual operating loss, of which Iwata apologized to shareholders.

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Johnny is a graduate of Colorado State University, where he studied journalism with a news/editorial emphasis. He has written for several news outlets, including the three Colorado newspapers and ESPNDenver.com. Reach him through his website (ByJohnnyHart.com) or on Twitter (@ByJohnnyHart7).